The Nigerian government has launched a geological map to show the potentials of mineral deposits and investors location in the country. During the 8th edition and exhibition of the Nigeria Mining Week in Abuja, the launch of mineral deposits was conducted by the President of Nigeria, Bola Ahmed Tinubu, who was represented by Senator George Akume, the Secretary to the Government of the Federation; Abdullahi Sule, Governor of Nasarawa State; Dr. Doris Uzoka-Anite, Minister of Industry, Trade and Investment; Shuaibu Audu, Minister of Steel Development; and Dr. Oladele Alake, Minister of Solid Minerals Development.
Senator Akume restated the commitment of Nigeria in maximizing its mineral deposits potential and providing support for investors in the Mining sector. The Senator stated that for the last 17 years, the mining sector in Nigeria have suffered neglect. He added that there has been a trajectory of successes through the industrial reforms of the last 17 years. The theme of Nigeria Mining week, this year is “Capitalizing on Nigeria Critical Mineral Resources For Economic Growth”. This years theme focuses on the commitment of the government to cooperation, investment and sustainable development within the industry.
Mining activities will serve as a drive to create job opportunities.
Also, Senator Akume said that the recorded losses of the nation have been observed by the present administration, led my President Bola Ahmed Tinubu, through export of crude Mineral Deposits. Therefore, before exportation, value addition with Mineral resources has evolved. The policy will guarantee that teeming youths in Nigeria are introduced meaningfully into economic enterprises that will equip them, while building their skills. He declared that the period of exporting mineral oil from the country is gone.
Mr. Oladele Alake, the Minister of Solid Minerals Development, said that investing in Mineral Resources in Nigeria can lead to decrease in reliance on oil revenues. Also, it can diversify the economy of the country, and create good job opportunities for the increasing youths in Nigeria. According to Alake, he stated that the ministry believes that mining activities will serve as a drive to create job opportunities and develop the community. He said that the vision of the ministry for the mining sector is beyond ordinary resource extraction.
Motions to diversify economy in Nigeria have been set out.
Shuaibu Abubakar, the Minister of Steel Development, stated that steel is known to be the pillar of industrialization, and a necessity for construction, manufacturing and infrastructure development. He stated that Nigeria is blessed with major minerals, such as iron ore, limestone, lead, tin, coal and many others. Continuing one disclosed that there would be an increase in the revenue of Nigeria, if the resources were properly used. The Minister reaffirmed the readiness of the country to grow the steel sector, which will be used to contribute significantly to Nigeria GDP, attract investment and create many jobs.
According to the Minister, motions to diversify economy in Nigeria have been set out to attract Foreign Direct Investment, ensuring transformation of the Ajaokuta Steel Company Limited complex, with a designation of 24,000-hectare land of Ajaokuta as an Industrial Park, into a Free Trade Zone. The initiative is to stimulate economic growth, create job opportunities, and revitalise the steel industry in the region, thereby building an industrial park in Ajaokuta. Moreover, the strategic initiative was in addition to the development of a broader five-year plan and a three-year plan for Ajaokuta to expand steel production to other states in Nigeria.
President Tinubu’s determination was commended.
Furthermore, Mr. Dele Ayanleke, the President of the Miners Association of Nigeria, expressed his hope on the Mining industry in the country. He said that growing interests are generated on the solid minerals sector, particularly, from the lower level of government. However, he stated that it is accompanied by legal challenges which articulate management will provide a workable template for regulatory and legal frameworks for enhancement of the growth of the sector. He applauded the determination of President Tinubu towards the development of Mineral sectors in Nigeria for the development of the economy.
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Nigeria launches geo map mineral deposits. – Capitalizing on Nigeria Critical Mineral Resources For Economic Growth. – Express your point of view.
That’s really exciting news! Nigeria launching a geo map of mineral deposits is a significant step towards capitalizing on the country’s critical mineral resources for economic growth. By identifying and mapping these resources, Nigeria can better understand the potential value and opportunities they offer. This can lead to the development of strategic plans and policies to harness these resources in a sustainable and responsible way. Leveraging critical mineral resources can not only boost economic growth but also create employment opportunities and drive innovation in various industries. It’s important for Nigeria to prioritize responsible mining practices, environmental conservation, and community engagement to ensure that the benefits of these resources are shared equitably and contribute to the overall well-being of the country. I’m excited to see how this initiative unfolds and the positive impact it can have on Nigeria’s economy and development.
The launch of a geological map showcasing Nigeria’s mineral deposits is a positive step in unlocking the economic potential of the country’s mineral resources. By focusing on value addition and sustainable development, Nigeria can diversify its economy and create job opportunities for its youth. The commitment to revitalize the mining sector and expand steel production is commendable, as these efforts have the potential to reduce reliance on oil revenues and attract investment. The determination of President Bola Ahmed Tinubu to develop the mineral sector is a significant driving force for this economic growth initiative.
The sector’s development will be largely dependent on appropriate legal and regulatory frameworks.An important step toward economic growth and diversification is the release of Nigeria’s geological map of its mineral reserves. The government’s dedication to growing the mining industry and providing employment opportunities for our people
Nigeria takes advantage of its critical natural resources to drive economic growth by launching a geomagnetic mapping of its mineral riches.Nigeria’s mineral riches are being highlighted on a geological map, which is a step in the right direction toward realizing the natural resources’ economic potential. Nigeria is able to diversify its source of income and affordably develop employment for the citizens by emphasizing added benefit and long-term growth.